The article was updated on 30 December, 2019 by Amicus.
20 March, 2019, | AtoZ Markets - One of QuadrigaCX Co-founders had a past full of criminal activities in the United States. The media reported that recently.
Why did US Court Convict QuadrigaCX Co-founder?
Michael Patryn, the co-founder in question here, who helped Gerald Cotten in 2013 establish QuadrigaCX, was known before as Omar Dhanani. Not so long ago, the exchange lost $145 million of clientele funds. That was in parallel with the death of its CEO, Gerald Cotton. He passed away at the age of 30 as a result of the Crohn’s disease he diagnosed within December 2018.
At the moment, QuadrigaCX is undergoing legal and financial proceedings, independent monitor in its creditor protection case. Patryn had already left QuadrigaCX in 2016, upon a big disagreement with Cotten over the listing processes for the firm.
Back in the time, Patryn and his partner, Lovie Horner, stayed two of QuadrigaCX’s largest shareholders, event. But he had not involved in any business with the company’s operations since 2016. The Canadian newspaper Globe and Mail reported that.
The case’s ramifications continue with Patryn denying today being the same person as Dhanani. However, the Bloomberg exposed that Patryn legally changed his name twice — first losing his last name “Dhanani.” And then he replaced his surname “Omar” in 2003 and 2008.
1.5 Million Stolen Credit Card and Bank Card Numbers in His Record
22-year-old Dhanani - or Patryn- was sentenced to 18 months in the US federal prison for involving in “identity theft.” That related to both bank and credit card fraud back in 2005, according to the reports. The sentence came to meet the charges of trafficking over 1.5 million stolen credit card and bank card numbers through shadowcrew.com. He operated that in 2002.
Dhanani's criminal record continues, as in 2007. California state court also charged him for burglary, grand theft. Further details say that he deported to Canada later, where he introduced himself once again as a “Bitcoin (BTC) entrepreneur”.
His LinkedIn profile says that he is based in Vietnam. Now he has also been serving as founder and chairman at fin-tech Ventures Group (FVG), a Canada-based blockchain incubator. Recently, Cotten’s widow Jennifer Robertson reported that Cotten used to fund the exchange with his own money.
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